M&A in IT domain
"Apple confirmed the purchase but didn't say what it intends to do with the company. "Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans," a company spokesperson told the Wall Street Journal. Earlier this month CEO Tim Cook said Apple has purchased 23 companies in the last 15 months. The bulk of these acquisitions were of small start-ups."
Eric, now a day's merger and acquisition are so common in industries; especially; with IT domain. One of the key reasons is their success story and domain proficiency with the startup companies. For big companies, they are acquiring a proven technology; which is ready to market or already in market. So for both parties it's like a win- win situation.